Maidenform Brands, Inc. Earnings: Beats Analyst Expectations on Profit Rise
Maidenform Brands, Inc. (NASDAQ:MFB) reported net income above Wall Street’s expectations for the first quarter. Maidenform Brands, Inc. is a global intimate apparel Company with a portfolio of established and well-known brands, top-selling products and an iconic heritage. It designs, sources and markets intimate apparel products.
Maidenform Brands Earnings Cheat Sheet for the First Quarter
Results: Net income for Maidenform Brands, Inc. rose to $14.5 million (62 cents/share) vs. $12.1 million (51 cents/share) in the same quarter a year earlier. A rise of 19.9% from the year earlier quarter.
Revenue: Rose 14.4% to $163.6 million YoY.
Actual vs. Wall St. Expectations: MFB beat the mean analyst estimate of 56 cents/share. Estimates ranged from 54 cents per share to 59 cents per share.
Quoting Management: “These results complete our ninth consecutive quarter of increased sales for Maidenform, a trend we intend to continue as we leverage our products globally to extend the reach of our brands and deliver profitable growth for our shareholders,” stated Maurice S. Reznik, Chief Executive Officer.
Key Stats: From the fourth quarter of the last fiscal year, the company’s current liabilities rose to $86.4 million from $58.4 million.
Gross margin shrunk 2.3 percentage points to 34.1%. The contraction appeared to be driven by rising costs as the figure rose 18.6% from the year earlier quarter while revenue rose 14.4%.
Over the last five quarters, revenue has increased 18.5% on average year over year. The biggest increase came in the second quarter of the last fiscal year, when revenue rose 30.8% from the year earlier quarter.
Competitors to Watch: Hanesbrands Inc. (NYSE:HBI), Polo Ralph Lauren Corp. (NYSE:RL), Liz Claiborne (NYSE:LIZ), Jones Apparel Group (NYSE:JNY), Guess? (NYSE:GES), Coach (NYSE:COH), V.F. Corporation (NYSE:VFC), J. Crew Group (NYSE:JCG), Wet Seal (NASDAQ:WTSLA), Express (NYSE:EXPR), Limited Brands (NYSE:LTD), bebe stores inc (NASDAQ:BEBE), Gap (NYSE:GPS), Urban Outfitters (NASDAQ:URBN), Abercrombie & Fitch (NYSE:ANF), The Buckle (NYSE:BKE), American Eagle Outfitters (NYSE:AEO), Aeropostale (NYSE:ARO), Wacoal Hldgs. Corp. (NASDAQ:WACLY), The Warnaco Group, Inc. (NYSE:WRC), and Phillips-Van Heusen Corp. (NYSE:PVH)
Stock Performance: Shares of MFB are up 2.59% to $32.04 per share from the previous close of $31.23.